Overview

ReelsFriendsFVG is a sophisticated cTrader cBot that implements a Fair Value Gap (FVG) trading strategy with comprehensive risk management features. This robot identifies market inefficiencies (gaps) on a secondary timeframe and executes trades with precise risk controls.

Strategy Logic

Core Concept

The cBot identifies Fair Value Gaps (FVGs) on a user-defined secondary timeframe (default: 15 minutes):

• Bullish FVG: Bearish candle → Gap down → Bullish candle pattern
• Bearish FVG: Bullish candle → Gap up → Bearish candle pattern

Market Bias Determination

The strategy uses three bias modes:

1. Auto (0): Determines bias automatically using EMA filter
2. Manual Bullish (1): Only looks for long opportunities
3. Manual Bearish (2): Only looks for short opportunities

Entry Conditions

• Price must be below hourly open for bullish bias trades
• Price must be above hourly open for bearish bias trades
• FVG must meet minimum size requirement (configurable in pips)

Risk Management Features

Position Sizing

• Risk-based position sizing (default: 0.75% per trade)
• ATR-based stop loss and take profit levels
• Configurable SL/TP multipliers

Loss Controls

• Daily loss limit (default: 3% of initial balance)
• Equity protection stop (default: 40% drawdown)
• Maximum concurrent positions limit

Trade Management

• Trailing stops with configurable activation and step
• Breakeven functionality
• Time-based order management (creation/cancel hours)

Configuration Parameters

Strategy Parameters

• Bias Mode: Auto, Manual Bullish, or Manual Bearish
• FVG Minimum Size: Minimum gap size in pips to qualify as tradable FVG
• FVG Timeframe: Timeframe for FVG identification (default: 15min)

Risk Parameters

• Risk per Trade %: Percentage of account to risk per trade
• SL/TP Multipliers: Multipliers applied to ATR for stop loss and take profit
• Max Concurrent Positions: Maximum number of simultaneous trades

Time Controls

• Order Creation Hour: Hour when trading begins
• Order Cancel Hour: Hour when pending orders are canceled
• Daily Close Hour: Hour when all positions are closed

Usage Notes

1. The cBot works best in trending market conditions
2. FVG identification requires a secondary timeframe with sufficient historical data
3. Recommended minimum account balance: $1000 for proper position sizing
4. Default parameters optimized for major forex pairs (EURUSD, GBPUSD, etc.)

Disclaimer

This trading robot should be thoroughly tested in a demo environment before live deployment. Past performance is not indicative of future results. Users should understand the strategy and adjust parameters according to their risk tolerance and market conditions.